David E Raven - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of David E Raven. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

Companies with Reported Insider Positions

The SEC filings indicate David E Raven has reported holdings or trades in the following companies:

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by David E Raven. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases NBTB / NBT Bancorp Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in NBTB / NBT Bancorp Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Max	Price at Max	Max Profit ($)	Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Sales NBTB / NBT Bancorp Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in NBTB / NBT Bancorp Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Min	Price at Min	Max Loss Avoided ($)	Max Loss Avoided (%)
2016-01-19	NBTB	RAVEN DAVID E	2,183	24.9518	2,183	24.9518	54,470	6	23.8900	-2,317	-4.25
2016-01-06	NBTB	RAVEN DAVID E	5,860	26.8343	5,860	26.8343	157,249
2015-11-19	NBTB	RAVEN DAVID E	7,701	29.8000	7,701	29.8000	229,490
2015-11-18	NBTB	RAVEN DAVID E	13	29.8000	13	29.8000	387
2015-11-11	NBTB	RAVEN DAVID E	1,110	30.2000	1,110	30.2000	33,522
2015-11-06	NBTB	RAVEN DAVID E	3,605	29.9500	3,605	29.9500	107,970
2015-10-29	NBTB	RAVEN DAVID E	4,571	29.2506	4,571	29.2506	133,704
2015-10-28	NBTB	RAVEN DAVID E	19,000	28.5000	19,000	28.5000	541,500
2015-02-10	NBTB	RAVEN DAVID E	5,000	24.2000	5,000	24.2000	121,000
2015-01-20	NBTB	RAVEN DAVID E	1,780	24.1058	1,780	24.1058	42,908
2015-01-20	NBTB	RAVEN DAVID E	965	23.9752	965	23.9752	23,136
2015-01-06	NBTB	RAVEN DAVID E	5,065	24.8061	5,065	24.8061	125,643
2014-12-29	NBTB	RAVEN DAVID E	20,000	26.2500	20,000	26.2500	525,000
2014-10-30	NBTB	RAVEN DAVID E	16,289	25.2000	16,289	25.2000	410,483
2014-01-16	NBTB	RAVEN DAVID E	2,353	25.0655	2,353	25.0655	58,979
2014-01-06	NBTB	RAVEN DAVID E	2,844	25.3899	2,844	25.3899	72,209
2013-10-29	NBTB	RAVEN DAVID E	15,018	24.2500	15,018	24.2500	364,186
2013-10-28	NBTB	RAVEN DAVID E	813	24.2500	813	24.2500	19,715
2013-08-13	NBTB	RAVEN DAVID E	4,453	23.0000	4,453	23.0000	102,419
2013-01-18	NBTB	RAVEN DAVID E	1,873	20.8250	1,873	20.8250	39,005
2013-01-03	NBTB	RAVEN DAVID E	3,536	20.9082	3,536	20.9082	73,931
2012-01-19	NBTB	RAVEN DAVID E	1,249	23.6500	1,249	23.6500	29,539
2012-01-17	NBTB	RAVEN DAVID E	487	23.2700	487	23.2700	11,332

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Trading History

This table shows the complete list of insider trades made by David E Raven as disclosed to the Securities Exchange Commission (SEC).